The current uptrend is evident as Ethereum (ETH/USD) is making higher highs and higher lows. The current price is around $3,935, reflecting a strong upward trend. Key level to watch: $4,000–$4,050 as the next significant milestone that aligns with previous highs. Key Levels:
Premium Zone (Resistance): Around $4,000–$4,100. This area represents potential resistance, where profit-taking or increased selling pressure may occur. Equilibrium Zone: Around $3,500–$3,600. A strong support zone; if the price retraces, this could act as a buying opportunity. Discount Zone (Strong Support): Around $3,000–$3,200. This represents the lower range where buyers may aggressively step in. Indicators:
The upward-sloping Moving Average supports continued bullish momentum. Change of Character (ChoCH) and Break of Structure (BOS) signals near $3,700–$3,800 confirmed a transition to a bullish market structure, further reinforcing the uptrend. Volume:
High trading volume during the recent rally above $3,800 shows strong buying interest, particularly near key breakout levels. Conclusion and Recommendations (USD-specific): Current Price: $3,935.
The instrument is showing an uptrend with strong bullish momentum. Resistance Zone:
If the price moves toward $4,000–$4,100 (premium zone), there might be resistance and potential consolidation or a short-term pullback. Support Zones:
Look for strong support at $3,500–$3,600 (equilibrium zone) if the price retraces. Deeper retracement could find buyers at the $3,000–$3,200 level (discount zone). Trading Recommendations: For Long Positions:
If price breaks above $4,100, this could confirm continued bullish momentum, offering a long entry with a target of $4,200+. Alternatively, wait for a retracement to the $3,600 level (equilibrium) for a safer entry. For Short Positions:
Watch for reversal signs (e.g., bearish candles or volume divergence) near the $4,000–$4,100 resistance zone.
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